This study looked into pension assets investments and its impact in the Nigerian economy. The investments includes quarterly reports of corporate debt securities, government bond securities, mutual funds’ investments, money market instruments, private equity funds and real estate securities from 2004 – 2020, and was sourced from the statistics database of the National Pension Commission, the Central Bank of Nigeria and the World data bank. The statistical measures used to analyze the data are the descriptive test, Unit root test, Co-integration test, Vector error correction, Causality and Impulse response function. The outcome of the analysis show that the variables were stationary after first differences were taken; and were also co-integrated at 2 lags indicating that both short and long run equilibrium relationship exist among the variables. From the vector error correction model, previous years’ deviations from long run equilibrium had a 0.09% speed of adjustment; leading to a short run equilibrium. The Causality test reveal that changes in government bond securities lead to changes in real estate securities and changes in money market investments leads to changes in government bond securities. In addition, the impulse response demonstrates that a shock to the system produces more negative responses than positive ones. The study thus recommends that the pension industry should vigorously create more awareness on the importance of employee pension plan; develop more e-channels to help rake in investible funds as well as develop more innovative products to support diversification of pension fund in different assets classes among others.

The aim of this study is to revisit the relationship between foreign direct investment (FDI) and economic growth. The motivation behind this study is that there is ambiguous evidence across countries on FDI and economic growth. However, there have been many studies conducted across countries but there is a scanty literature available on FDI and economic growth in India. The relation between FDI and economic growth is vague. Therefore, this study is an addition to all previous studies, try to posit the relationship between economic growth and FDI. Energy consumption has been taken as a control variable into consideration. The study has covered time-series data from 1990 to 2019. The ARDL bound test approach has been employed to confirm the cointegration among the variables. The bound test confirmed the existence of a long-run relationship between FDI and economic growth. The error-correction term negative sign indicates that there is a divergence between dependant and independent variables in the short-run. The empirical results state that FDI has a significant impact on economic growth

The price of crude oil has fluctuated in India over the past few decades which has drawn significant attention because of it impact on all economic sectors. The present study aims to identify how oil price volatility affects the real exchange rate in India from 1st July 2009 to 2nd January 2020. For short-run and long-run analysis, various econometric methods have been applied, including Granger Causality, ARDL Bound test, FEVD, and IRF. The study divided the entire sample into sub-samples based on Breakpoint analysis and then performed the ARDL Bound testing procedure in each sub-sample. Causality results revealed that most samples exhibited strong unidirectional causality from oil prices to exchange rates. However, the long-run and short-run results from the ARDL model failed to detect any cointegration among the underlying variables for the entire sample. The calculated F-statistics is 4.35, which is less than the lower and upper critical bound values provided by Pesaran, Shin, and Smith (2001). The GIRF has been used to calculate the dynamic marginal effect of a one-standard-deviation shock in oil prices on the current and future values of the Rupee-Dollar exchange rate. The exchange rate fell in the first three samples due to one standard deviation shock in oil prices. However, the contribution of oil prices to the exchange rate is positive in the fourth sample period.

The present study attempts to evaluate the growth and performance of 21 private banks of the Indian banking system using indicators like credit, deposit, return on assets etc. The study also evaluates the overall technical efficiency, pure technical efficiency, scale efficiency, allocative efficiency and cost efficiency between 2009-10 to 2018-19 using non-parametric data envelopment analysis (DEA). The inputs and outputs have been specified using intermediation approach. The inputs used are sum of deposits and borrowings, number of employees and fixed assets. Investments, advances and other income are taken as outputs. Prices of inputs have also been used to evaluate allocative and cost efficiency. The findings of the study indicate that new private banks had better average overall technical efficiency, average pure technical efficiency, average scale efficiency and average cost efficiency. IDFC bank was the only bank efficient in all the types of efficiencies. Further, the negative effect of non-performing assets was also seen on the performance and efficiency of new and old private banks.

Financial liberalization is a process that could be profitable for growth but it may pose serious problems to the development and economic prosperity. The objective of this paper thesis is to evaluate by using panel data, the effect of financial liberalization and institutional quality on banking development on a sample of 17 Arab countries over the period 1990-2012. The empirical findings suggest that financial liberalization could have a positive effect as well as the institutional quality on banking development for the Arab region.

Monthly All Share Index data from 1985M01-2021M12 was sourced from the Central Bank of Nigeria and the Central Securities Clearing System of the Nigerian Stock Exchange; to analyze multiple bubble periods. The supremum Augmented Dickey Fuller (SADF) and Generalized supremum Augmented Dickey Fuller (GSADF) quantitative model with 1000 repetitions along with a window size of 42 was selected to carry out the Monte Carlo simulation at the 95% confidence level. From the Backward SADF estimation, three periods of explosive pricing and collapses were detected. The study therefore recommends that market regulators should promote market information and support regular training of market participants to stem speculations and reduce arbitrage. Overall, well-informed risk management practices should be established to guard against market losses.

This study primarily aimed to analyze the effect of the human development, Information, Communication, and Technology development index, and creative economy export value on the gross domestic product of the creative economy. Data were analyzed using multiple linear regression with Eviews 12. Study samples were time series data of creative economy GDP, Human Development Index, ICT development index, and creative economy product export values between 2007 and 2020. This study found that: (1) HDI significantly and partially affects the creative economy GDP, (2) the ICT development index significantly and partially affects the creative economy GDP, (3) creative economy product export values significantly and partially affect the creative economy GDP, and (4) HDI, ICT development index, and creative economy export values significantly and simultaneously affect the creative economy GDP. The result of this study suggests the need for the government to improve education quality, build sufficient, equal ICT infrastructure, and make regulations that facilitate creative economy actors. The creative economy actors are recommended to develop more creative products, while educators are suggested to develop more innovative learning methods.

The purpose of this research is to find out and analyze the performance of local governments through the developmental achievements of unemployment, inflation, poverty, inequality, income distribution and economic growth in West Java over the last five years. Also to find out the dominance of the performance of the West Java Government based on targets on regional macroeconomics for the last five years. The research method uses descriptive case studies to analyze the performance of the West Java Provincial Government on regional macroeconomic variable data series which are estimated by each of the previous achievements and target plans. The results show that the development of the achievement of regional macroeconomic variables in the implementation process is a form of West Java Provincial Government performance that considers the evaluation of previous achievements and targeting orientation. In addition, efforts to maintain regional macroeconomic variables are trying to reduce unemployment, poverty, and the distribution of income balance. Meanwhile, the control is carried out on achieving inflation and the economic growth rate.

This paper examines the time-varying conditional correlations among Crude oil. EUR/USD and major ETS markets. We apply a trivariate dynamic conditional correlation (cDCC) GARCH models in order to capture potential contagion effects between the markets for the period 2013-2017. Empirical results reveal contagion during the under investigation period regarding the trivariate models, showing potential volatility transmission channels among the markets. Findings have crucial implications for policymakers who provide regulations for the above derivative markets.